Quote:
Originally Posted by fotze
Still not sure what the gov't is trying to do here? Does this make people take on less debt.
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Well, they're really just putting it
back to where it was before. They're the ones that pushed the number of years up in the first place.
I guess it's hard for the BoC/government to tell households (the "official" greatest domestic threat to our economy - according to Carney) to get your debt in order if you're still propping up the amortization rate.
Now if they do something like move it to 20 years, that would be pushing it off the long term trend. I think another option they were considering was to increase the minimum downpayment.